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This morning I had the inspiration to actually get out my warm bed and go for a run before work. Mr. M decided to join me and we talked about the subject of a new used
car for him. Goldie, as we affectionately refer to his 2004 ride is showing some major signs of wear. The coolant light never turns off; one of the doors is missing a handle among other things. My MIL has offered us a loan from the “bank of Mom” as she put it to get a new car and we need to decide by December 1st. Thus began a very interesting conversation on getting a "new" car for Mr. M. Can I be honest here? I don’t want to borrow any money from my In-Laws. They’re great people and raised a great son but I’m not a fan of owing anyone in the family money. We still owe them money on the house since they helped Mr. M with the down payment and I want to be done with owing anyone anything. I feel guilty saying this since a new car would mean than my husband would be safer driving to and from work. Does guilt outweigh pride?
We have been so disappointed in my hubbies car pool, that we have thought seriously about downsizing the new car we just bought, but looking at the safety features of this car versus a smaller cheaper model it was not worth the $600.00 a year gas savings to switch. If hubbies car is truly unsafe, switch. If it is not I would wait. I drove an old beater for 10 months last year to save money and was able to pay off and $22,000 truck loan in 20 months. So weigh the odds. Remember that your insurance will also go up with a newer vehicle.
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